The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-01-01
WHEN
Shut at D. m to-day.
THE BUSINESS OUTLOOK.
The Closing of Prosperous Year Furnishes
Indications of Possible Storm.

NEW YORK, Dec. 3l-R g. Dun e Co. 8
weekly review of trade, to be issued to o-morrow,
will say: Rarely has a year opened with
greater disheartenment than the year 1886
Rarely has year closed with more confidence
The disheartenment was not wholly justified,
and there is some reason to fear that the conf
dence may be partly unwarranted. The failures
for the year have been fewer than in 1885, and
the aggregate of liabilities has been smaller; but
the average fcr the year has been scarcely lower
and for the last quarter the failures have been
both more numerous and larger than for the
same quarter of 1885, the increase in amount of
liabilities for that period being no less than 40 ner
cent. During the past month the failures have
been unusual in amount of liabilities. Without
known disturbance or depression in important
branches OF trade to cause them. they come like
bolts out of the blue" and seem 20 indicate an
unusual expansion of credits. When it is re-
membered that the familiar cause of such ex-
panslon-tbat the currency has been largely in
creased-and that wild speculation ran riot
month ago In the stock and produce markets
these failures, with their rising volume of in
deotedness. justify fear that confidence has
grown too fast The natural inference is that
some firms, anxious to recover in a few months
the losses of several weary years. have gone be-
yond their depth How much Of unsoundness
In commercial credits has thus been produced it
is no. vet possible to Judge
During the pact week legitimate business has
not been large in volume The dullness usual
to the closing week of the year is reported from
all CHARTERS But though dealers are busy in
making cp accounts, there is every whore feel
ing OF great confidence Trade during the past
half-year has been very large and generally re-
munerative The prevailing tendency is to
count Epon a continued enlargement for the
next season, bnt it would be wise not to forget
that it is possible to build too largely on the
future even in time of real and healthy i'm.
provement.
Prices havo advanced during the week in near
~ all speculative markets A flood of monev
from abroad stimulates trading here while
stringency is noted at Boston, ard Chicago banks
anxious to keep Western money out of this citv
are talking of paying interest on deposits
Stocks are stronger in spite of rise in the rate
OF exchange, which indicates that foreigners are
selling to some extent Wheat has been active
and war rumors have advanced it q cents. with
sales of y, 0O0, 900 bushels 10 five days Corn
advanced one cent, and pork products are active.
quarter.
Cotton has stiffened on smaller receipts for the
week. and widely circulated small crop esti-
mates.
Coffee has advanced half cent. oil q cents,
and iron 10 cents per ton, with over $2I bid for
the No. iron, which the Thomas COMPANY re-
Gently offered at $50. Copper is weaker at Sl1 so:
the production for the year has been 49, 900 OO0
pounds less than in 1885. and larger than in anv
other year. while the consumption appears to
have Increased 26 per cent. for the year Coal
carriers are all embarrassed by lack of rolling
stock. the output for the year having been tho
largest on record.
The statistics of failures for the year 1856
show slight falling off compared with 1885
The number in the United States is SS4. against
l0, 63I in 1888, decrease of 8O3 The liabilities
are $ll4,ooO 600, against 1924, 600, 900 in 1885,
Failures seem. recently, to have been unusually
numerous. and the figures for the last quarter Of
1856 show 2 746 against 9 i60 in the last ouarter
OF Of 1883; the liabilities were. respectively, s37-
Gee, 600 aud S25. 900 OOO